**About The Guest(s):**
Greg Raiz is a successful entrepreneur and investor in the Boston ecosystem. He is the founder of Raise Labs, a mobile technology company that he sold in 2017. Greg has a background in computer science and has worked at Microsoft. He runs an accelerator program called Raiz Labs, and AI-focused accelerator.
**Summary:**
Greg Raiz, founder of Raiz Labs, shares his insights on building a successful startup and the role of accelerators in supporting founders. He emphasizes the importance of pragmatic and empathetic support for founders, drawing from his experience building and selling his company. Greg also discusses the key factors contributing to startup success, including culture, cash flow, and capital. He highlights the need for founders to carefully evaluate accelerators and investors to ensure a good fit and maximize the value they can provide.
Interview Recording:
| Timestamp | Summary |
|---|---|
| 0:00:03 | Introduction and start of the conversation |
| 0:01:12 | Discussion on Greg’s background and business approach |
| 0:03:44 | Greg’s motivation to help other founders after his successful exit |
| 0:04:17 | Early version of the Accelerate program at Raise Labs |
| 0:05:37 | Greg’s approach to investing and the need for objective analysis |
| 0:07:25 | Assessing founder readiness and teachability |
| 0:08:08 | Importance of team dynamics and culture in startups |
| 0:09:53 | Three core factors for long-term success: culture, cash flow, and capital |
| 0:11:48 | The value of good cash flow mechanics in startups |
| 0:12:16 | Providing founders with macro-level education on venture capital |
| 0:12:46 | Discussion on the volume of information and misinformation around startups |
| 0:13:55 | Importance of accelerator programs and finding the right fit |
| 0:16:07 | Founders should be cautious of any investor |
| 0:17:34 | Importance of a bi-directional match between founder and investor |
| 0:18:40 | Misinformation about not needing to know all aspects of a business |
| 0:19:48 | Consideration of geography when raising capital |
| 0:21:19 | Questions to ask accelerators and investors |
| 0:22:33 | The current moment for artificial intelligence |
| 0:23:56 | Unique positioning to take advantage of the AI market |
| 0:24:37 | Big bets worth taking in the AI space |
| [0:25:42] | Layer one level is scary, focus on layer two applications |
| [0:26:50] | Broad applications vulnerable to being incorporated by incumbents |
| [0:27:22] | Opportunities in vertical slices within layer two |
| [0:28:56] | Picking an industry vertical as a strong wedge for success |
| [0:30:20] | Innovations crossing industries can be powerful |
| [0:31:26] | Depth of understanding or solution is crucial for success |
| [0:32:14] | Program length: 3 months with additional 3 months of support |
| [0:33:32] | Investment: $25K for 2% equity at $5M post-money valuation |
| [0:34:32] | Program designed to bridge the gap for early-stage companies |
| [0:35:48] | Building E Ink newspaper and microcontroller projects for fun |
| [0:38:04] | Interested founders can join the Accelerate program |
| [0:38:15] | Website link for more information |
| [0:38:18] | Conclusion and farewell |
| [0:38:19] | Closing remarks |